Cardano (ADA) : Another Ethereum Killer?

Cardano is home to the ADA crypto currency which can be used to send and receive digital funds. This digital cash represents the future of money and is making possible the fast direct transfers that are guaranteed to be secure through the use of cryptography; its being called “Ethereum of Japan” and “Ethereum Killer”. Cardano is more than just a cryptocurrency however, it is a technological platform that will be capable of running financial applications currently being used everyday by individuals, organizations and governments all around the world.

Cardano will also run Decentralized Applications or “DAPPS” services not controlled by any single party but instead operated on a blockchain. All ADA is pre-mined so there is no mining done on Cardano, however there are some mined reserved to award the “stakers” that will verify operations on ADA network. They use “Proof of Stake” rather than “Proof of Work” witch requires lots of energy. This makes it cheaper to run and almost as secure. This is the first blockchain project to be designed from this scientific philosophy and the only one to be designed and built by a global team of leading academics and engineers. It is essential that the technology is secure, flexible and scalable for use by many millions of users. The vision for Cardano is that its new style of regulated computing will bring greater financial inclusion that will provide open access for all to fair financial services. Overall this crypto seems to provide a similar solution to Ethereum but it targets more developers to adopt it.

Next we will discuss some reasons Cardano is a good investment (this is not investment advice, for educational purposes only). It is led by Charles Hoskinson, who was previously CEO of Ethereum. So this gives a really good chance for Cardano to be successful. Cardano technology is built from peer reviewed research at some of the worlds foremost universities. This is unlike any other cryptos and it gives really good scientific backing technology. Overall Cardano is another coin in the crypto world that provides similar solution as other blockchain platforms such as Ethereum but with some twists, so please do your own research before jumping in. To help in your continuation of learning about this unique platform here are some links to aid you in your quest for crypto knowledge.

I hear good things about Cardono, but it really tugs on my beard when people refer to an “Ethereum killer”. How can an unproven and scarcely used network without a mainnet talk about killing anything? Ditto for nearly every other blockchain protocol out there.

Ethereum has decent levels of decentralization – see arewedecentralizedyet.com – in comparison with Bitcoin, which is still offers the truest and most serious blockchain. ETHs greatest advantage lies with its mighty developers and researchers; the strength and depth of Ethereum’s talent is why its gonna hang around. They all have (some serious) stakes in the network and its success. It’s likely that in the (nearish) future ETH may see some competitors eating a bit of its pie, but you’d be naive to think its gonna fade into obscurity. Various interoperability platforms (Blocknet, ICON, AION, etc) will start connecting chains, and start the web3 project in earnest. (Don’t even get me started on the potential of sidechains like Loom Network & Raiden, and Ethereum sclaing solutions!!)